Karnataka Bank

MUMBAI: Karnataka Bank Ltd on Friday decided to tie up with the state-owned Allahabad Bank to foray into the insurance sector. The Mangalore-based bank has resolved to subscribe to the equity share capital of the proposed joint venture General Insurance Company to be promoted by Allahabad Bank and Allbank Finance and others, it informed the stock exchanges. Further details would be made available after obtaining necessary regulatory approvals, it said.

NEW DELHI: Karnataka Bank slipped as much as 9.4 per cent in trade on Monday, after the private sector lender reported 10 per cent decline in net profit at Rs 109.34 crore for the April-June quarter of the current fiscal. The stock ended the day 8.74 per cent lower or Rs 13.45 at Rs 140.4. It had posted Rs 121.63 crore net profit in the first quarter of 2014-15. Karnataka Bank hit a low of Rs 142.60 and a high of Rs 148 in trade today on BSE. However, the total income...

MANGALORE: The Mangalore-based Karnataka Bank has reduced interest rates for domestic and NRE rupee term deposits with effect from November 15. According to the revised rate structure, the bank would pay an interest of five per cent on domestic term deposits for a period of seven to 14 days, (on bulk deposits of Rs 15 lakh and above only). The rate will be five per cent for 15 days to 45 days, six per cent for 46 days to 90 days, 6.50 per cent for 91 days to 179 days, seven per cent for 180...

Bowing under pressure from Reserve Bank of India, Karnataka Bank has finally decided to split the post of the chairman and CEO of the bank. Currently Ananthakrishna is the chairman and CEO of the bank. Mr Ananthakrishna's tenure was to come to an end in July 2009. The bank in a release to the Bombay Stock Exchange said that board in a meeting has resolved to split the post of chairman and CEO of the bank. The board has proposed Mr Ananthakrishna as the part time chairman of the...

NEW DELHI: Private sector Karnataka Bank today reported 10 per cent decline in net profit at Rs 109.34 crore for the April-June quarter of the current fiscal. It had posted Rs 121.63 crore net profit in the first quarter of 2014-15. However, the total income of the bank has increased to Rs 1,348.17 crore during the April-June quarter of the current fiscal , from Rs 1,254.24 crore in the same period of last fiscal, Karnataka Bank said in a filing to the BSE . Gross...

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on Karnataka Bank. ET Now: What is your view on Karnataka Bank? Ashwani Gujral: Karnataka Bank is a 'BUY' call with a target of Rs 154 and a stop loss of Rs 145.

In a chat with ET NOW, Deepak Mohoni, Director , trendwatchindia.com (Technical Check) gives his call on Karnataka Bank What are your stock recommendations Karnataka Bank ? Karnataka Bank is a buy, stop loss of Rs 177 and the target of Rs 187, short term trade.

Talk of Karnataka Bank being acquired refuses to die down. A couple of weeks ago, there was a speculation about Axis Bank looking to buy Karnataka Bank. The latest buzz is that Kotak Mahindra Bank may be in talks to buy the private bank. Senior Kotak Bank officials denied that they were in talks to buy out Karnataka Bank. But investors seem to be convinced about the possibility of Karnataka Bank being a takeover target. The stock, which has...

MUMBAI: Investment services provider Macquarie Bank today reduced its stake in Karnataka Bank by offloading over 11 lakh shares of the private sector lender for Rs 15 crore. Macquarie Bank, which held 44.28 lakh shares or 2.35 per cent stake in Karnataka Bank at the end of September quarter, sold 11.12 lakh shares (amounting to 0.59 per cent holding)of the banking entity , as per bulk data available with the stock exchanges. The shares were sold on an average...

MANGALORE: Karnataka Bank on Wednesday announced that it would soon launch Visa Debit Card facility. The bank also plans to increase its ATM centres to 100 from the present 15 by the year-end, it said in a release here. As per its agreement with Corporation Bank, the customers of both the banks can access over 800 ATMs across the country, it said.

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services in an interview with ET Now talks about Karnataka Bank. Karnataka Bank seems to have just kind of gone into more of a flat pattern? Absolutely I see this stock range bound in between around say 165 on the downside. I do not see it breaking that as well and on the upside 180 and it crosses 180 or possibly 185 and closes above that and then it can just blow off can go to somewhere around 220....

Ganesh Shanbhag, SMS Financial Services, in a chat with ET Now talks about Karnataka Bank and Texmaco. What is the rationale fundamentally for Karnataka Bank and Texmaco? Karnataka Bank there is no core promoter and we have seen that banking stocks with the banking reforms coming in will see a lot of undercurrent but as of now they have announced a rights issue at a price of around Rs 100, the ratio is yet to come but with no core promoter...